Business, 24.03.2020 02:30, nell1234565
Aragon Company has just received the August 21, 2010 bank statement, which is summarized below.
County National Bank Disbursements Receipts Balance
Balance, August 1 $9,369
Deposits during August $32,200 41,569
Note Collected for depositor, including $40 interest 1,040 42,609
Checks cleared during August $34,500 8,109
Bank Service Charges 20 8,089
Balance, August 31 8,089
The general ledger Cash account contained the following entries for the month of August.
Cash
Balance, August 1 10,050 Disbursements for August 35,403
Receipts during August 35,000
Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.
Instrustions:
a. Preare a bank reconciliation dated August 31, 2010, proceeding to a correct balance.
b. Prepare any entries necessary to make the books correct and complete.
c. What amount of chas should be reported in the August 31 balance sheet?
Answers: 2
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Aragon Company has just received the August 21, 2010 bank statement, which is summarized below.
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